A linear, downward-sloping demand curve has a constant elasticity but a changing slope
a. True
b. False
Indicate whether the statement is true or false
False
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Because the United States is a developed economy, every other country is catching up to the level of U.S. real GDP per person
Indicate whether the statement is true or false
If the structural stagnation hypothesis is correct, demand-side government policy has been far too expansionary since the mid:
A. 1970s. B. 1990s. C. 1980s. D. 2000s.
If in September 2014, €1 = $1.2962, a good costing €45 would have a Dollar price of:
(a) $59.52. (b) $58.33. (c) $34.72. (d) $35.72.
A monopoly produces widgets at a marginal cost of $20 per unit and zero fixed costs. It faces an inverse demand function given by P = -100 ? 4Q. Suppose fixed costs rise to $401. What happens in the market?
A. The firm will reduce its output and raise price. B. The firm will raise the price. C. The firm will continue to produce the same output and charge the same price. D. The firm will shut down immediately.